Reference is made to the Company’s announcement dated 28 February 2023. 

Key Alliance Group Berhad (“KAG” or the “Company”) wishes to announce that the Memorandum of Understanding ("MOU") entered into between Agrocloud Sdn. Bhd., a subsidiary of the Company, and Koperasi Peserta-Peserta Rancagan Felcra Seberang Perak Berhad had expired pursuant to the terms of the MOU ("MOU Expiry"). 

Following the MOU Expiry, neither party shall have any claim whatsoever, directly or indirectly, against the other in respect of the MOU. The MOU Expiry will not have any material financial impact on KAG and its subsidiaries.

This announcement is dated 31 May 2023.